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Murdoch's News Corp 'considering splitting into two firms'


June 26, 2012 - Washington

Media tycoon Rupert Murdoch's News Corporation is likely to be divided into two firms, separating its publishing assets from its entertainment businesses, people familiar with the matter have revealed.

According to a Wall Street Journal report, the split would mean News Corp's film and television businesses would be carved off from its newspapers, book publishing assets and education businesses.

The film and television businesses included 20th Century Fox film studio, Fox broadcast network and Fox News channel.

The firm's publishing assets include The Wall Street Journal, the Times of London and the Australian newspaper, as well as HarperCollins book publishing.

According to the report, if a separation occurs, the publishing company would be far smaller than the entertainment company.

Consideration of the restructuring at News Corp., which is yet not confirmed, comes in the wake of the phone-hacking scandal at the company's British newspaper operations.

That scandal has so far resulted in the closure of the tabloid News of the World and the resignation of several senior executives.

It also prompted News Corp. to abandon a bid for shares it doesn't already own in the U.K. satellite-TV operator British Sky Broadcasting.

ANI

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